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| Exchange Disseminated Time | LGB Forge Ltd has informed BSE that necessary approvals have been received from the Shareholders of the Company in the Extra Ordinary General Meeting held on January 06, 2010 for the following items and which the Company would not be implementing due to procedural difficulties.
1. Issue of 6 (Six) Equity shares of Re. 1/- each to M/s LG Sports Ltd a company belong to Promoter and Promoter Group on Preferential basis.
2. Alteration of Capital Clause of Memorandum of Association.
3. Alteration of Capital Clause of Articles of Association.
4. Consolidation of the face value of the Equity Shares of Re. 1/- each into Rs. 10/- each.
Further the Company has informed that, since in the matter of implementation of item No.1 i.e., issue of 6 (Six) Equity shares of Re. 1/- each on preferential basis to M/s LG Sports Ltd belong to Promoter & Promoter Group this is not implemented as of now consequent to the provisions of amended Regulation of 11 (2A) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 1997 and to this effect the other items cannot be implementable.
Efforts being taken to make good this issue and necessary resolutions will be passed in the ensuing Shareholders meeting accordingly. |
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